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Question
Explain the concept of business.
Explain the concept of business.
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Solution
Business is an economic activity that involves the exchange, purchase, sale or production of goods and services with a motive to earn profits and satisfy customers’ needs. Businesses can be profit or non-profit organizations that function to gain profits or achieve a social cause.
Business is an economic activity that involves the exchange, purchase, sale or production of goods and services with a motive to earn profits and satisfy customers’ needs. Businesses can be profit or non-profit organizations that function to gain profits or achieve a social cause.
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